The latest generation of India has targeted relatively unique local issues involving industries such as Insurance, education, logistics and lodging through India’s latest breakout applications.
Policybazaar has been in the business for 10 years while it takes a 20% cut of sales on its website while the industry was valued at 72 billion dollars while having coverage of only 3.7% of 1.3 billion citizens. The company facilitates comparison shopping for insurance where a 10 million rupee insurance policy also comes at just 680 rupees a month. Mr Yashish Dahiya, CEO of Policybazaar stated that the company has brought transparency while having no equivalents in the U.S. or China as the company became a unicorn startup valued over USD 1 billion.
The Online education company Byju’s has drawn 1.7 million subscribers where each pay USD 135 on average each year for access while 130,000 new students join every month. Mr Byju Raveendran, CEO of Byju’s stated that there is a young population with increased spending power and rapidly growing digital infrastructure has helped India-relevant models to scale quickly. Byju’s have now crossed USD 1 billion in value during March.
In addition, Udaan is a two-year-old marketplace-app maker which connects more than 150,000 buyers and sellers of electronics, clothing and staples allowing real-time chat in multiple Indian Languages while they are also looking rapidly to add more product categories.
Moreover, OYO Hotels founded by Mr Ritesh Agarwal is valued at USD 5 billion which have created a lodging network trusted by travellers while listing about 125,000 rooms which is about 5% of India’s total hotel rooms where the numbers increase by 12,000 every month. The company has been growing with the rapid growth of the Indian digital market which grew increased by 364 million users in the last five years. The company has planned its expansion to China, the UK and
Although not being billion dollar unicorn startups, the Maldives is also home to new online startups which have the potential for high growth in the coming days.
Such as traveler.mv which is the first ever online travel agency of the Maldives soft-launched recently offering both Business-to-Business (B2B) and Business-to-Consumer (B2C) feature where OTA’s, Hotels, Resorts and Guesthouses can register and display their offers on traveller.mv while travellers can compare and manage the booking online while the prices are also displayed for choosing the best options. Traveller.mv has partnered with AxisRooms which is a top-rated channel manager and Asia’s leading hotel booking solutions provider.
Moreover, Payer is a unified mobile payment and commerce platform with a vision to make payments simple and hassle-free aiming to create a payment and commerce ecosystem, where customers can manage, pay and track all their financial needs in one platform such as paying bills etc.. Payer has already been widely accepted by the Maldivian community. In addition, koo.mv is a newly introduced online marketplace through which customers can purchase products of their choice from several businesses and make payments online.